AB Discovery Growth Fund, Inc.
Portfolio of Investments
October 31, 2024 (unaudited)
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Company | | Shares | | | U.S. $ Value | |
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COMMON STOCKS – 96.9% | | | | | | | | |
Industrials – 26.5% | | | | | | | | |
Aerospace & Defense – 5.9% | | | | | | | | |
Axon Enterprise, Inc.(a) | | | 81,713 | | | $ | 34,605,455 | |
Curtiss-Wright Corp. | | | 107,362 | | | | 37,035,596 | |
Howmet Aerospace, Inc. | | | 269,057 | | | | 26,830,364 | |
Moog, Inc. - Class A(b) | | | 224,928 | | | | 42,421,421 | |
Standardaero, Inc.(a) | | | 749,477 | | | | 21,622,411 | |
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| | | | | | | 162,515,247 | |
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Building Products – 6.1% | | | | | | | | |
Armstrong World Industries, Inc. | | | 303,560 | | | | 42,361,798 | |
AZEK Co., Inc. (The)(a) | | | 727,665 | | | | 32,017,260 | |
Carlisle Cos., Inc. | | | 73,595 | | | | 31,074,017 | |
Lennox International, Inc. | | | 102,359 | | | | 61,678,462 | |
| | | | | | | | |
| | | | | | | 167,131,537 | |
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Commercial Services & Supplies – 1.7% | | | | | | | | |
Tetra Tech, Inc. | | | 931,520 | | | | 45,532,698 | |
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Construction & Engineering – 4.3% | | | | | | | | |
Comfort Systems USA, Inc. | | | 138,590 | | | | 54,194,234 | |
Fluor Corp.(a) | | | 462,440 | | | | 24,176,363 | |
Granite Construction, Inc.(b) | | | 476,860 | | | | 40,080,083 | |
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| | | | | | | 118,450,680 | |
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Electrical Equipment – 1.4% | | | | | | | | |
BWX Technologies, Inc. | | | 324,781 | | | | 39,542,087 | |
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Ground Transportation – 3.2% | | | | | | | | |
Saia, Inc.(a) (b) | | | 92,550 | | | | 45,220,855 | |
XPO, Inc.(a) | | | 315,007 | | | | 41,117,864 | |
| | | | | | | | |
| | | | | | | 86,338,719 | |
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Machinery – 1.5% | | | | | | | | |
ITT, Inc. | | | 287,501 | | | | 40,284,640 | |
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Marine Transportation – 1.3% | | | | | | | | |
Kirby Corp.(a) | | | 299,200 | | | | 34,336,192 | |
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Professional Services – 1.1% | | | | | | | | |
FTI Consulting, Inc.(a) | | | 149,663 | | | | 29,196,258 | |
| | | | | | | | |
| | | | | | | 723,328,058 | |
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Information Technology – 22.3% | | | | | | | | |
Electronic Equipment, Instruments & Components – 4.2% | | | | | | | | |
Coherent Corp.(a) (b) | | | 391,170 | | | | 36,159,755 | |
Fabrinet(a) | | | 183,403 | | | | 44,194,621 | |
Novanta, Inc.(a) (b) | | | 204,600 | | | | 34,831,104 | |
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| | | | | | | 115,185,480 | |
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Semiconductors & Semiconductor Equipment – 4.8% | | | | | | | | |
Astera Labs, Inc.(a) (b) | | | 133,812 | | | | 9,388,250 | |
MACOM Technology Solutions Holdings, Inc.(a) (b) | | | 330,518 | | | | 37,150,223 | |
Monolithic Power Systems, Inc. | | | 22,504 | | | | 17,087,287 | |
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Company | | Shares | | | U.S. $ Value | |
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Semtech Corp.(a) | | | 903,810 | | | $ | 39,939,364 | |
Universal Display Corp. | | | 157,025 | | | | 28,314,748 | |
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| | | | | | | 131,879,872 | |
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Software – 12.0% | | | | | | | | |
CyberArk Software Ltd.(a) (b) | | | 134,795 | | | | 37,273,513 | |
Gitlab, Inc. - Class A(a) | | | 456,130 | | | | 24,516,987 | |
HubSpot, Inc.(a) | | | 47,773 | | | | 26,503,983 | |
Klaviyo, Inc. - Class A(a) | | | 958,455 | | | | 36,450,044 | |
Manhattan Associates, Inc.(a) | | | 204,006 | | | | 53,727,020 | |
Monday.com Ltd.(a) | | | 125,347 | | | | 36,835,723 | |
Nutanix, Inc. - Class A(a) | | | 681,657 | | | | 42,330,900 | |
PTC, Inc.(a) | | | 145,722 | | | | 27,006,658 | |
Samsara, Inc. - Class A(a) | | | 886,339 | | | | 42,358,141 | |
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| | | | | | | 327,002,969 | |
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Technology Hardware, Storage & Peripherals – 1.3% | | | | | | | | |
Pure Storage, Inc. - Class A(a) | | | 707,390 | | | | 35,404,870 | |
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| | | | | | | 609,473,191 | |
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Health Care – 20.4% | | | | | | | | |
Biotechnology – 13.9% | | | | | | | | |
Akero Therapeutics, Inc.(a) | | | 375,777 | | | | 11,585,205 | |
Apogee Therapeutics, Inc.(a) (b) | | | 228,214 | | | | 11,876,256 | |
Arcus Biosciences, Inc.(a) | | | 612,023 | | | | 9,363,952 | |
Ascendis Pharma A/S (ADR)(a) | | | 89,010 | | | | 10,932,208 | |
Blueprint Medicines Corp.(a) | | | 213,634 | | | | 18,695,111 | |
Bridgebio Pharma, Inc.(a) | | | 534,451 | | | | 12,511,498 | |
Cytokinetics, Inc.(a) | | | 292,687 | | | | 14,927,037 | |
Denali Therapeutics, Inc.(a) | | | 600,922 | | | | 15,599,935 | |
Exact Sciences Corp.(a) (b) | | | 457,990 | | | | 31,569,251 | |
Halozyme Therapeutics, Inc.(a) | | | 479,645 | | | | 24,255,648 | |
Insmed, Inc.(a) | | | 396,772 | | | | 26,694,820 | |
Intellia Therapeutics, Inc.(a) | | | 474,112 | | | | 6,741,873 | |
Legend Biotech Corp. (ADR)(a) | | | 314,034 | | | | 14,137,811 | |
MoonLake Immunotherapeutics(a) | | | 225,183 | | | | 10,452,995 | |
Natera, Inc.(a) | | | 417,330 | | | | 50,480,237 | |
Neurocrine Biosciences, Inc.(a) | | | 241,940 | | | | 29,098,124 | |
Ultragenyx Pharmaceutical, Inc.(a) | | | 345,351 | | | | 17,609,447 | |
Vaxcyte, Inc.(a) (b) | | | 298,785 | | | | 31,775,785 | |
Viking Therapeutics, Inc.(a) (b) | | | 267,183 | | | | 19,381,455 | |
Xenon Pharmaceuticals, Inc.(a) | | | 309,528 | | | | 12,724,696 | |
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| | | | | | | 380,413,344 | |
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Health Care Equipment & Supplies – 2.3% | | | | | | | | |
AtriCure, Inc.(a) | | | 870,163 | | | | 28,872,008 | |
Masimo Corp.(a) | | | 234,760 | | | | 33,807,788 | |
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| | | | | | | 62,679,796 | |
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Company | | Shares | | | U.S. $ Value | |
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Health Care Providers & Services – 2.0% | | | | | | | | |
BrightSpring Health Services, Inc.(a) (b) | | | 1,352,458 | | | $ | 20,246,296 | |
PROCEPT BioRobotics Corp.(a) | | | 394,917 | | | | 35,542,530 | |
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| | | | | | | 55,788,826 | |
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Life Sciences Tools & Services – 1.2% | | | | | | | | |
Repligen Corp.(a) | | | 246,452 | | | | 33,091,110 | |
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Pharmaceuticals – 1.0% | | | | | | | | |
Intra-Cellular Therapies, Inc.(a) | | | 307,671 | | | | 26,075,117 | |
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| | | | | | | 558,048,193 | |
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Consumer Discretionary – 14.5% | | | | | | | | |
Broadline Retail – 1.1% | | | | | | | | |
Ollie’s Bargain Outlet Holdings, Inc.(a) | | | 332,320 | | | | 30,516,946 | |
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Diversified Consumer Services – 2.0% | | | | | | | | |
Duolingo, Inc.(a) | | | 183,602 | | | | 53,789,878 | |
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Hotels, Restaurants & Leisure – 4.9% | | | | | | | | |
Cava Group, Inc.(a) | | | 232,616 | | | | 31,068,193 | |
DraftKings, Inc. - Class A(a) (b) | | | 803,790 | | | | 28,389,863 | |
Viking Holdings Ltd.(a) | | | 1,062,213 | | | | 41,691,860 | |
Wingstop, Inc. | | | 119,895 | | | | 34,492,592 | |
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| | | | | | | 135,642,508 | |
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Household Durables – 2.5% | | | | | | | | |
NVR, Inc.(a) | | | 3,643 | | | | 33,343,687 | |
SharkNinja, Inc. | | | 369,166 | | | | 34,040,797 | |
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| | | | | | | 67,384,484 | |
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Specialty Retail – 1.9% | | | | | | | | |
Burlington Stores, Inc.(a) | | | 127,560 | | | | 31,605,541 | |
Wayfair, Inc. - Class A(a) (b) | | | 511,556 | | | | 21,909,944 | |
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| | | | | | | 53,515,485 | |
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Textiles, Apparel & Luxury Goods – 2.1% | | | | | | | | |
Birkenstock Holding PLC(a) (b) | | | 459,790 | | | | 21,150,340 | |
Deckers Outdoor Corp.(a) | | | 222,268 | | | | 35,760,698 | |
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| | | | | | | 56,911,038 | |
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| | | | | | | 397,760,339 | |
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Financials – 8.2% | | | | | | | | |
Capital Markets – 5.3% | | | | | | | | |
Jefferies Financial Group, Inc. | | | 579,860 | | | | 37,099,443 | |
PJT Partners, Inc. - Class A(b) | | | 207,893 | | | | 28,888,811 | |
Stifel Financial Corp. | | | 395,796 | | | | 41,012,382 | |
TPG, Inc.(b) | | | 554,930 | | | | 37,557,662 | |
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| | | | | | | 144,558,298 | |
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Financial Services – 1.4% | | | | | | | | |
Shift4 Payments, Inc. - Class A(a) (b) | | | 438,395 | | | | 39,648,444 | |
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Company | | Shares | | | U.S. $ Value | |
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Insurance – 1.5% | | | | | | | | |
Ryan Specialty Holdings, Inc.(b) | | | 610,280 | | | $ | 40,199,144 | |
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| | | | | | | 224,405,886 | |
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Consumer Staples – 2.9% | | | | | | | | |
Food Products – 1.5% | | | | | | | | |
Freshpet, Inc.(a) | | | 298,174 | | | | 39,519,982 | |
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Personal Care Products – 1.4% | | | | | | | | |
BellRing Brands, Inc.(a) | | | 598,870 | | | | 39,423,612 | |
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| | | | | | | 78,943,594 | |
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Energy – 1.3% | | | | | | | | |
Energy Equipment & Services – 0.8% | | | | | | | | |
TechnipFMC PLC | | | 792,720 | | | | 21,157,697 | |
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Oil, Gas & Consumable Fuels – 0.5% | | | | | | | | |
Permian Resources Corp.(b) | | | 1,088,869 | | | | 14,841,284 | |
| | | | | | | | |
| | | | | | | 35,998,981 | |
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Real Estate – 0.8% | | | | | | | | |
Industrial REITs – 0.8% | | | | | | | | |
Lineage, Inc. | | | 307,107 | | | | 22,738,202 | |
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Total Common Stocks (cost $2,102,116,585) | | | | | | | 2,650,696,444 | |
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INVESTMENT COMPANIES – 1.6% | | | | | | | | |
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Funds and Investment Trusts – 1.6% | | | | | | | | |
iShares Russell 2000 Growth ETF(b) (c) (cost $29,299,181) | | | 156,772 | | | | 43,965,140 | |
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SHORT-TERM INVESTMENTS – 1.6% | | | | | | | | |
Investment Companies – 1.6% | | | | | | | | |
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 4.72%(c) (d) (e) (cost $44,122,026) | | | 44,122,026 | | | | 44,122,026 | |
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Total Investments Before Security Lending Collateral for Securities Loaned – 100.1% (cost $2,175,537,792) | | | | | | | 2,738,783,610 | |
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INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 1.4% | | | | | | | | |
Investment Companies – 1.4% | | | | | | | | |
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 4.72%(c) (d) (e) (cost $37,223,705) | | | 37,223,705 | | | | 37,223,705 | |
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| | | | | | | | |
| | | | | U.S. $ Value | |
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Total Investments – 101.5% (cost $2,212,761,497)(f) | | | | | | $ | 2,776,007,315 | |
Other assets less liabilities – (1.5)% | | | | | | | (40,801,498 | ) |
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Net Assets – 100.0% | | | | | | $ | 2,735,205,817 | |
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(a) | Non-income producing security. |
(b) | Represents entire or partial securities out on loan. |
(c) | To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618. |
(d) | Affiliated investments. |
(e) | The rate shown represents the 7-day yield as of period end. |
(f) | As of October 31, 2024, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $643,616,144 and gross unrealized depreciation of investments was $(80,370,326), resulting in net unrealized appreciation of $563,245,818. |
Glossary:
ADR – American Depositary Receipt
ETF – Exchange Traded Fund
REIT – Real Estate Investment Trust
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AB Discovery Growth Fund, Inc.
October 31, 2024 (unaudited)
In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.
| • | | Level 1 - quoted prices in active markets for identical investments |
| • | | Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
| • | | Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments) |
Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, by pricing vendors, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.
The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of October 31, 2024:
| | | | | | | | | | | | | | | | |
Investments in Securities: | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
Assets: | | | | | | | | | | | | | | | | |
Common Stocks(a) | | $ | 2,650,696,444 | | | $ | — | | | $ | — | | | $ | 2,650,696,444 | |
Investment Companies | | | 43,965,140 | | | | — | | | | — | | | | 43,965,140 | |
Short-Term Investments | | | 44,122,026 | | | | — | | | | — | | | | 44,122,026 | |
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund | | | 37,223,705 | | | | — | | | | — | | | | 37,223,705 | |
| | | | | | | | | | | | | | | | |
Total Investments in Securities | | | 2,776,007,315 | | | | — | | | | — | | | | 2,776,007,315 | |
Other Financial Instruments(b) | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | |
Total | | $ | 2,776,007,315 | | | $ | — | | | $ | — | | | $ | 2,776,007,315 | |
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(a) | See Portfolio of Investments for sector classifications. |
6
(b) | Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation (depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, written options and written swaptions which are valued at market value. |
A summary of the Fund’s transactions in AB mutual funds for the three months ended October 31, 2024 is as follows:
| | | | | | | | | | | | | | | | | | | | |
Fund | | Market Value 07/31/2024 (000) | | | Purchases at Cost (000) | | | Sales Proceeds (000) | | | Market Value 10/31/2024 (000) | | | Dividend Income (000) | |
Government Money Market Portfolio | | $ | 64,795 | | | $ | 183,513 | | | $ | 204,186 | | | $ | 44,122 | | | $ | 481 | |
Government Money Market Portfolio* | | | 75,625 | | | | 162,845 | | | | 201,246 | | | | 37,224 | | | | 684 | |
Total | | $ | 140,420 | | | $ | 346,358 | | | $ | 405,432 | | | $ | 81,346 | | | $ | 1,165 | |
* | Investments of cash collateral for securities lending transactions |
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